Banks ignite new credit card war as they battle to offer longest 0% deal

Banks are once again battling it out to offer borrowers the longest interest-free credit card deal on balance transfers.

Halifax re-ignited the credit card war last week with the launch of a new card that offers customers a 32-month holiday on interest payments. There is a 3 per cent transfer fee - £75 on a typical £2,500 balance.

But hours later Barclaycard fought back with a record 33-month 0 per cent balance transfer offer.

Plenty of 0% deals: But only customers with the cleanest credit scores will secure the best deals

This means customers wouldn’t have to pay a penny in interest on any debt they transfer onto the card until March 2017 — nearly three years away.
Its card also has a slightly smaller fee of 2.99 per cent — £74.75 on a £2,500 balance.

However, borrowers who can afford to repay their credit card debt more quickly may be better off going for a card with a shorter 0 per cent offer, but a smaller fee.

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